Moody corporations bonds have a 15-year maturity what is, Financial Management

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Moody corporations bonds have a 15-year maturity what is

Moody Corporation's bonds have a 15-year maturity, a 7.25% coupon paid semiannually, and a par value of $1,000. If the going market interest rate for bonds of similar risk and maturity is 5.80% (based on semiannual compounding), what is the bond's price?

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Financial Management: Moody corporations bonds have a 15-year maturity what is

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